Tootsie Roll Industries (NYSE:TR) Hits New 1-Year High - What's Next?

Key Points

• Tootsie Roll Industries shares reached a new 52-week high of $43.97, closing at $43.79, with a trading volume of 28,766 shares.
• The company announced a quarterly dividend of $0.09, which will be paid on October 16th, representing an annualized yield of 0.8% and a payout ratio of 28.80%.
• Weiss Ratings reissued a "buy (b-)" rating for the stock, and it currently holds a consensus rating of "Buy" among analysts.

Shares of Tootsie Roll Industries, Inc. (NYSE:TR - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $43.97 and last traded at $43.79, with a volume of 28766 shares. The stock had previously closed at $43.56.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "buy (b-)" rating on shares of Tootsie Roll Industries in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy".

Tootsie Roll Industries Stock Performance

The company's 50-day moving average price is $40.12 and its 200 day moving average price is $35.83. The stock has a market cap of $3.16 billion, a PE ratio of 34.72 and a beta of 0.45.

Tootsie Roll Industries (NYSE:TR - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $0.24 earnings per share for the quarter. Tootsie Roll Industries had a return on equity of 10.36% and a net margin of 12.72%.The company had revenue of $153.19 million for the quarter.

Tootsie Roll Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Tuesday, October 7th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, October 7th. Tootsie Roll Industries's dividend payout ratio is presently 28.80%.

Hedge Funds Weigh In On Tootsie Roll Industries

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC grew its holdings in Tootsie Roll Industries by 23.7% during the 3rd quarter. GAMMA Investing LLC now owns 4,243 shares of the company's stock valued at $178,000 after buying an additional 813 shares in the last quarter. State of Wyoming purchased a new stake in shares of Tootsie Roll Industries in the second quarter worth about $111,000. Public Sector Pension Investment Board raised its holdings in shares of Tootsie Roll Industries by 5.9% during the 2nd quarter. Public Sector Pension Investment Board now owns 56,964 shares of the company's stock worth $1,905,000 after acquiring an additional 3,167 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of Tootsie Roll Industries by 8.6% during the 2nd quarter. California State Teachers Retirement System now owns 13,895 shares of the company's stock valued at $465,000 after acquiring an additional 1,098 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Tootsie Roll Industries in the second quarter valued at $183,000. Institutional investors own 14.28% of the company's stock.

About Tootsie Roll Industries

Tootsie Roll Industries, Inc, together with its subsidiaries, engages in the manufacture and sale of confectionery products in the United States, Canada, Mexico, and internationally. It sells its products under the Tootsie Roll, Tootsie Fruit Rolls, Frooties, Tootsie Pops, Tootsie Mini Pops, Child's Play, Caramel Apple Pops, Charms, Blow-Pop, Charms Mini Pops, Cella's, Dots, Junior Mints, Charleston Chew, Sugar Daddy, Sugar Babies, Andes, Fluffy Stuff, Dubble Bubble, Razzles, Cry Baby, NIK-L-NIP, and Tutsi Pop trademarks.

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